The Regulation defines that the National Registry of Condominium Administrators will depend on Minvu through the Executive Secretariat of Condominiums (SEC).
On Tuesday, March 26, the Decree approving the Regulations that will govern the new National Registry of Condominium Administrators was published in the Official Gazette. A significant measure that is part of the update of the Real Estate Co-Ownership Law.
This regulation, public, free and mandatory, is designed to professionalize and regulate the management of condominiums in Chile, ensuring a higher standard of administration.
Among its most significant aspects we include the following:
Creation of the Registry: A National Registry of Condominium Administrators is formed, managed by the Ministry of Housing and Urban Planning (Minvu) that will centralize the information of qualified administrators.
Registration Requirements: Certain specific requirements are established for natural persons and legal entities that want to register in the Registry:
- For natural persons, this includes those who have not been convicted of serious crimes, the approval of secondary education and having passed a training course in condominium administration matters, among other requirements.
- For legal entities, it includes having a valid legal personality at the time of the registration request, accompanying the payroll of the natural persons who will perform the duties of condominium administrators and the identification of the legal representative of the legal entity, among other requirements.
Support and Training: The Regulation establishes a framework for the advice and training of administrators, promoting continuous improvement in condominium management.
In summary, this regulation seeks, mainly, greater transparency and professionalization in the administration of condominiums, since it tries to guarantee that only trained administrators without relevant criminal records can exercise, raising the quality of management.
The details of the regulations are available on the website of the Library of National Congress.
In order to discuss the implications of the regulation, you can contact our Corporate and Commercial and Real Estate team:
Álvaro Rosenblut | Partner | arosenblut@az.cl
Javiera Lira | Senior Associate| jliras@az.cl
Raimundo Busquet | Associate | rbusquet@az.cl
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